They still haven't developed their skills to the extent that they are substantially more profitable than their competitors, ... If they develop the skills and manage their claims better, they can go to the big insurers and demonstrate that they (Midland) should write the business, not them.
More Quotes from Paul Newsome:
Rate increases is one of a number of questions that personal lines companies, like Allstate, will face.Paul Newsome
Comments about pricing on conference calls will be very important for the insurance stocks.
Paul Newsome
Premium revenues were up a lot in the quarter, so that would suggest that they're lowering prices to gain more customers. But medical cost inflation could have accelerated too -- it's not clear which one it is, but both issues would affect the entire industry.
Paul Newsome
It's been a long time since they've had a year without something exceptional.
Paul Newsome
We expect it to be a really big loss in the quarter but Allstate hasn't come out with an estimate and its hard to tell how big of a loss it will be, ... That's pretty unusual and it makes me a little nervous that they might post a bigger loss than expected.
Paul Newsome
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